I need ch 2 notes

Auranangzeb was the last powerful Mughal ruler. After the death of Auranagzeb the later rulers proved to be inefficient and foreign powers got opportunity to establish their rule in India. East India Company comes East: i. In 1600 royal charter granted to East India Company granting the sole right to trade with the East. ii. East India Company bought goods at a cheap price and sold them at higher price in Europe. iii. Cotton and silk produced in India had a big market in Europe. iv. Pepper, cloves, cardamom and cinnamon were in great demand. v. East India company and its officials accumulated wealth by the trade of India and caught attention of other european powers. vi. English east India company had to compete with other europian companies such as Franch, Dutch and Portugese. vii. Because of the powerfull naval force British won over other european powers and became the champiion of struggle of monotony of trade. East India Company begins Trade in Bengal: i. In 1651, the first English factory was set up on the banks of river Hugli and first english factory was opened up at Surat in 1608. ii. Aurangzeb issued a farman granting the company the right to trade duty free. iii. The company tried to press for more concessions and manipulate existing privileges. iv. For trading purpose the passes were issued to company officials but they misused these passes for private trade and accumulate wealth on the name of company. v. Soon because of private trade company suffered and went into loses. To cure this anamoly British government made strict rules.

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